THE Securities and Exchange Commission (SEC) approved three fund-raising applications on Thursday worth more than P36 billion, consisting of an initial public offering (IPO) and two bond issues.
Armand Pan, SEC spokesperson, told reporters in a text message that the commission in an en banc session approved the P1.24-billion IPO of Mazda dealer Bermaz Auto Philippines Inc. (BAP) as well as the P30-billion bond issue of property developer Megaworld Corp. and the P5-billion bond issue of schools operator STI Education Services Group.
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